Effects of educational mismatch on private returns to education: An analysis of the Spanish case (1995-2006)
Entity
UAM. Departamento de Economía y Hacienda PúblicaPublisher
Elsevier IncDate
2012Citation
10.1016/j.jpolmod.2011.07.012
Journal of Policy Modeling 34 (2012): 646–659
ISSN
0161-8938DOI
10.1016/j.jpolmod.2011.07.012Funded by
Spanish Ministry of Science and Innovation (Fun-damental Research Projects ECO2009-13864-C03-01 and ECO2009-13864-C03-02).Project
Gobierno de España. ECO2009-13864-C03-02; Gobierno de España. ECO2009-13864-C03-01Editor's Version
http://dx.doi.org/10.1016/j.jpolmod.2011.07.012Subjects
Return to education; Required educationv; Overeducation; Undereducation; Economía; EducaciónRights
© 2011 Society for Policy Modeling. Published by Elsevier Inc. All rights reservedEsta obra está bajo una licencia de Creative Commons Reconocimiento-NoComercial-SinObraDerivada 4.0 Internacional.
Abstract
This study examines the effects of educational mismatch on wages in the Spanish labour
market since the mid-nineties. First we study the evolution of returns to education and then we
estimate returns to education in terms of the match between the worker’s schooling and the job
requirements. The results indicate that returns to education have declined since the mid-nineties.
One also finds that the return associated with the job’s required education is greater than that
corresponding to the worker’s actual schooling, and that the return on an additional year of
attained education is positive b ut less than that of an additional year of required education. From
a policy perspective, the existence of educational mismatch points to inefficiencies in the
allocation of the educational resources. Investment on education can positively contribute to
alleviate the unemployment problem in Spain, but taken into account the existence of educational
mismatch it also becomes necessary to introduce structural reforms in order to adapt the job
structure to a model of production based on knowledge so that the more highly qualified workers
can find a job that corresponds to their educational level.
Files in this item
Google Scholar:Murillo Huertas, Inés
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Rahona López, Marta
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Salinas Jiménez, María del Mar
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